The Us Dollar

[ray23]

Thanks Sokai I will do that.

[ray23]

Well it' no longer theory for me this is my bank. When you check the site they provide really doesn't seem to change much, yuo can still do direct deposits, use the onlne services issue checks, use the ATM card. Until they tell you otherwise. Look like I will have to now put both retirement payments is the Bangkok Bank in New York. It would be very difficult to sit up a new account for here.

I'm glad the threwad was continued or I probaly have got nailed with this out of the blue.

FDIC Information for Guaranty Bank, Austin, TX

--------------------------------------------------------------------------------

On August 21, 2009, Guaranty Bank, Austin, TX was closed by the Office of Thrift Supervision. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

All deposit accounts, excluding certain brokered deposits, have been transferred to BBVA Compass, Birmingham, AL. For more information on BBVA Compass, visit us at www.bbvacompass.com.

The FDIC has assembled useful information regarding your relationship with Guaranty Bank. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution.

Please select the link below to read more about this event:

FDIC Bank Closing Information for Guaranty Bank

Online service will remain available.

[Carmine6]

$7 trillion, $9 trillion. Who's really counting anyway?

http://news.yahoo.com/s/ap/20090822/ap_on_..._obama_budget_6

WASHINGTON – The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.

The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement...

Edited August 22, 2009 by Carmine6

[Gary A]

Well it' no longer theory for me this is my bank. When you check the site they provide really doesn't seem to change much, yuo can still do direct deposits, use the onlne services issue checks, use the ATM card. Until they tell you otherwise. Look like I will have to now put both retirement payments is the Bangkok Bank in New York. It would be very difficult to sit up a new account for here.

I'm glad the threwad was continued or I probaly have got nailed with this out of the blue.

FDIC Information for Guaranty Bank, Austin, TX

Let me know how you make out with Bangkok Bank US. Some time back I tried to open an account with them and was told that they don't do individual accounts. Good luck.

[ray23]

Gary I haev already done that had to fight toothe and nail with them. Turns out my Lawyer is there Lawyer he made three phone calls to corporate they did everyhting I asked them to do in the first place. You can't have an ATM card for the Account which mean you have to show up once a month and do a Transfer to account that does. That can be done in branch. They are the most hard headed people I have ever ran across. But you can beat them into submission. You need help geting one sit up let me know asn I will meet with you here and I'll to introduce yuo to the guy. Fee was a cup of coffee, actually gave him a peice of he wifes homemade chocholate cake

Now here is the real kicker bank services stay the same. The Fed transfered my account to a bank who is a wholly owned subsidary of a bank in Spain. Thats is unreal

Edited August 22, 2009 by ray23

[flying]

Now here is the real kicker bank services stay the same. The Fed transferred my account to a bank who is a wholly owned subsidiary of a bank in Spain. Thats is unreal

Sorry to hear about your hassle & bank closing Ray.

I'm certain many many more will be in the same boat as you this year.

As for the *new* bank being owned by Spain? For me that is not too hard to believe. Also I wonder if we will hear at some point how much of the TARP went to foreign banks? I think many will be more than a little surprised & angered.

[ray23]

After I got my research done I may actually be better off. It just seems so odd that with the banks they could have kept the money in in the states, to go a foriegn country, really surprised me. There is profit to be had in the banking system one would have thought with all the TARP money they were spending they wouldn't have given those profits to a bank oputside of the states. I'm really gettting to the system NOT

I don't really have to do anything, for me just business as usual. I'm trying to find the logic in this are the spreading the bad paper around the world? Isn't Spain having it's own problems ?

Note the operations in Swiss banking sytem was this a payoff for information on Swiss bank accounts?

BBVA Compass is a leading U.S. banking franchise located in the Sunbelt region. BBVA Compass is among the top 25 largest banks in the U.S. based on deposit market share and ranks as the third largest bank in Alabama and the fourth largest bank in Texas. Headquartered in Birmingham, Alabama, it operates 579 branches throughout Texas, Alabama, Arizona, Florida, Colorado and New Mexico.

Through three major business units – Corporate Banking, Retail Banking, and Wealth Management – Compass offers customers unique and industry-leading products and services with a focus on providing customers with financial solutions to fit their lives. These products and services include commercial and wholesale banking, treasury management, Small Business Administration loans, international services, merchant processing, retail banking services, consumer loans, mortgages, home equity lines and loans, credit cards, personalized Visa® Check Cards, securities brokerage, mutual funds and annuities, financial counseling, wealth management, pension plan management and insurance.

Compass Bancshares, Inc., a wholly owned subsidiary of BBVA (NYSE: BBV) (MAD: BBVA). BBVA is a financial services group with more than $750 billion in total assets, 48 million clients, 8,000 branches and approximately 109,000 employees in more than 30 countries. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, and the United Kingdom.[/quote]

[ray23]

his is just an interesting side note:

I also post on a local forum here in Udon, this is a response from there.

"My UK bank was taken over by Spanish bank, Santander. If it's Santander I wouldn't worry bumper."

Why Spain?

[flying]

I don't really have to do anything, for me just business as usual. I'm trying to find the logic in this are the spreading the bad paper around the world? Isn't Spain having it's own problems ?

The thing I would not understand is how will the FDIC insure accounts in a bank held by Spain? It would seem to me the bank is still USA majority held or is just that a bank need be licensed to open branches in the USA? In which case if the pay for FDIC insurance then they will have it?

To tell you the truth I have never researched it but it is interesting & I will look.

Personally I only keep 33% of funds in a bank & even then it is a Credit Union locally owned & insured by the NCUA same as FDIC

Only reason I use one at all is just for bill paying, business etc.

[ray23]

Easy really the Banks in America are a seperate entity owned by a parent company in Spain. So the only those branches in America are FDIC insured. Not the entire Enterprise.

But the use of Span has really got me curious, The Brit whose Accounts were siezed in the UK went to Spain but to a different banking group.

What is the motivation both in America and the UK to use banking groups in Spain?

Coindence maybe

Edited August 23, 2009 by ray23

[flying]

Easy really the Banks in America are a separate entity owned by a parent company in Spain. So the only those branches in America are FDIC insured. Not the entire Enterprise.

I understand but still it seems odd to me. Since FDIC is paid by taxpayers as well as the small % banks pay as insurance premiums.

For instance the bank goes under & the FDIC replaces the deposits.

Who lost the money that needed replacing? Not the depositors but the bank.

Yes the FDIC replaced money held for depositors but it was not the depositors who actually lost the money,The bank lost the deposits through its faulty investments/loans. A bank owned by a parent company in Spain ....Are their investments local USA investments or is a majority foreign? Now I know this question could just as easily be asked of a wholly US owned bank & perhaps the answer would be the same. That the money was lost in foreign investments/loans. So it does make me wonder. As usual this is just out of curiosity that I ask/wonder about these things. Glad the US depositor has the FDIC of course. But as you said just the deposits in America are insured. Not the entire enterprise. Yet my question is if that is a fact given what I just suggested.

[losworld]

The outlook for the U.S. dollar is bleak. Continued printing of money combined will simply dilute it. The only thing holding it up right now is world instability and a lack of other places to invest. Couple this with the speculation on commodities and oil and you will see oil go through the roof once again. As long as Wall Street is allowed to behave like a bull in a china shop there is little hope for recovery and stability.

[ray23]

Wholy owned subsidary, that is the information given to yuo by the FDIC with the notification which sends you to the bank site. Is it true got me.

With watching the threads I've been watching there was $400 in the acoount so it's not going to kill me I will keep at a minmum. Socail Security is the only thing going in there.

My real money goes right here now, where I need it.